CONTRARY TO EXPECTATIONS:Analysts had expected home sales to reflect an uptick in the local bourse, and the soft results also contradict surveys of consumer sentiment
Date: May 04, 2015
By: Crystal Hsu / Staff reporter
Housing transactions in the nation’s municipalities last month saw an annual double-digit percentage decline, with the number of sales falling below 2,000 in Taipei, surprising some analysts who see the strong performance of the local bourse as an indication that consumer confidence is on the rise.
Despite the year-on-year decline, some areas showed a monthly improvement in sales, signaling the market has yet to hit bottom, analysts said.
There were only 1,983 home sales in Taipei last month, down 29 percent from the same period last year, government data show, although the local bourse briefly rose above the 10,000-point mark on large turnover attributed to improving sentiment. [FULL STORY]